EUROZONE ISSUANCE: EGB Supply Daily
Italy will look to hold its second auction of the week today. Already this week, Germany held a synd...
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SCHATZ TECHS: (H6) Monitoring Resistance
- RES 4: 106.945 High Dec 3 and a key resistance
- RES 3: 106.900 High Dec 5
- RES 2: 106.835 High Dec 8
- RES 1: 106.799/805 20-day EMA / High Dec 29
- PRICE: 106.790 @ 06:19 GMT Dec 30
- SUP 1: 106.690/ 630 Low Dec 18 &22
- SUP 2: 106.630 Low Dec 10 and the bear trigger
- SUP 3: 106.621 2.236 proj of the Nov 26 - Dec 2 - 3 minor price swing
- SUP 4: 106.600 2.382 proj of the Nov 26 - Dec 2 - 3 minor price swing
A bear theme in Schatz futures remains intact and short-term gains are considered corrective. On the continuation chart, moving average studies are in a bear-mode position, highlighting a dominant downtrend. A resumption of the downtrend would open 106.621 next, a Fibonacci projection. Initial firm resistance is seen at 106.799 (pierced), the 20-day EMA. A stronger corrective bounce would allow an oversold trend condition to unwind.
GBPUSD TECHS: Bull Flag
- RES 4: 1.3661 High Sep 18
- RES 3: 1.3607 2.764 proj of the Nov 4 - 13 - 20 price swing
- RES 2: 1.3557 76.4% retracement of the Sep 17 - Nov 4 bear leg
- RES 1: 1.3534 Intraday high
- PRICE: 1.3513 @ 06:29 GMT Dec 30
- SUP 1: 1.3456 High Dec 16
- SUP 2: 1.3403/3343 20- and 50-day EMA values
- SUP 3: 1.3288 Low Dec 9
- SUP 4: 1.3180 Low Dec 2
The trend condition in GBPUSD remains bullish and recent gains reinforce current conditions. The latest pause appears to be a flag formation - a bullish continuation pattern. Note that moving average studies have recently crossed and are in a bull-mode position, highlighting a dominant uptrend. Sights are on 1.3557, a Fibonacci retracement. Firm support lies at 1.3343, the 50-day EMA.
CHINA PRESS: Total Logistics Volume Grow By 5% Y/y As Of November
Social logistic spending in China reached CNY331.2 trillion in the first eleven months, representing an increase of 5.0% y/y, Jiemian.com reported citing data by China Federation of Logistics and Purchasing. The total value of goods and services transported by business and consumers rose by 5.8% y/y, with the rapid growth of instant retail and live-streaming e-commerce driving a boom in emerging consumer logistics.
